GRSE bags ₹25,000-crore Navy corvette order, emerges lowest bidder
Kolkata: Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has emerged as the lowest bidder for constructing five Next Generation Corvettes (NGC) for the Indian Navy, in what is expected to be a landmark contract valued at approximately ₹25,000 crore.
In an exchange filing on Thursday, the state-run defence shipbuilder said it had secured the lowest bid position (L1) in a competitive tender process, paving the way for formal award of the prestigious project.
These advanced warships are expected to significantly enhance the Navy’s surface strike and anti-submarine warfare capabilities, while integrating green technologies for improved efficiency and sustainability.
GRSE’s selection underscores its strength in shipbuilding, design innovation and project execution.
The shipyard holds the distinction of having delivered 111 warships to India’s maritime forces and friendly nations, including six missile corvettes (Khukri and Kora class) and four ASW corvettes (Kamorta class).
The new corvettes will be equipped for offensive surface-to-surface missile attacks, anti-missile defence, and a range of other complex maritime operations.
They will feature cutting-edge naval systems and energy-efficient, environment-friendly technologies.
GRSE is currently engaged in building four Next Generation Offshore Patrol Vessels, three Advanced Guided Missile Frigates, eight Anti-Submarine Warfare Shallow Water Crafts (one of which has already been delivered), and four large Survey Vessels—two of which are in service.
Separately, the company confirmed that an order for an ocean-going tug for Bangladesh has been mutually cancelled.
The $21-million contract, which accounted for only 0.8% of GRSE’s order book, will have no material impact on its financials.
As of March 31, 2025, GRSE’s total order book stood at ₹22,680.75 crore.
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